KCB Group Plc today announced that it has entered into a definitive agreement to invest in Pesapal Limited (Pesapal), marking a significant milestone for the financial and digital payments landscape across Africa.
The proposed investment is expected to accelerate commerce, expand financial inclusion, and help unlock new pathways to prosperity for businesses of all sizes across the continent. The agreement underscores the growing importance of digital payments, data-driven business tools, and interoperable financial systems in driving Africa’s next phase of economic transformation.
Pesapal is a Central Bank of Kenya–licensed financial services provider with operations in Kenya, Uganda, Tanzania, Rwanda, and Zambia. Over the years, the company has established itself as a leading player in the region’s payments ecosystem, serving businesses across a wide range of key economic sectors. These sectors include retail, hospitality and travel, petroleum, manufacturing, education, and various business-to-business (B2B) service industries. Pesapal’s comprehensive suite of solutions—spanning payment acceptance, point-of-sale systems, merchant onboarding, business management tools, and data-led insights—addresses many of the structural barriers that businesses face as they grow. These barriers often include limited payment acceptance options, operational inefficiencies, inadequate digital business tools, and constrained access to affordable credit.
The transaction remains subject to customary conditions for deals of this nature, including regulatory approvals. Once completed, the investment is expected to significantly expand the impact of Pesapal’s technology and operational footprint. With KCB Group’s financial strength, extensive customer base, and deep market expertise, Pesapal will be better positioned to scale its services, drive innovation, and strengthen its value proposition across its existing markets and beyond. The partnership illustrates the transformative potential of collaboration between established financial institutions and rapidly scaling fintechs.
Speaking during the announcement, Agosta Liko, Co-founder and CEO of Pesapal, said the partnership is perfectly aligned with the company’s long-term vision. “Businesses across Africa need more pathways to sustainable growth, and this partnership delivers by expanding opportunities for them to thrive,” he noted. “This collaboration aligns with our mission, sets the stage for innovations that enhance value for businesses across Africa, and demonstrates how fintechs and established financial institutions can work together to accelerate digital transformation and economic inclusion.”
The transaction is expected to drive the next wave of innovative financial services and business solutions in Kenya and the region, benefiting both companies’ shareholders. It presents the opportunity to develop scalable, secure, and tech-forward solutions that can enhance productivity, streamline operations, and expand revenue opportunities for micro, small, and medium-sized enterprises (MSMEs) as well as larger corporates.
KCB Group CEO, Paul Russo, emphasised that the investment aligns with the Group’s long-term digital strategy. “Through this transaction, we want to further build our digital capabilities, leveraging Pesapal’s cutting-edge technology, footprint, and agility, enabling customers and SMEs to benefit from simplified, secure, and scalable payment tools,” he said. “By integrating payments, financing, and business tools, we want to empower SMEs to operate more efficiently, expand their markets, and participate fully in Africa’s digital economy.”
Under the agreement, Pesapal will continue to operate independently under its existing leadership team and strategic direction. This ensures continuity for its customers and allows Pesapal to maintain its innovation-driven culture while benefiting from the institutional backing and resources of one of East Africa’s largest banking groups. The company will remain focused on building robust financial growth infrastructure that enables African businesses to manage payments, access capital, and leverage operational insights.
KCB Group has been strengthening its position in digital financial services over the past several years. The bank has continued to enhance its infrastructure, broaden its regional reach, and pursue strategic partnerships with leading technology and payments companies. Earlier this year, KCB Group PLC acquired a majority stake in Riverbank Solutions Limited, a move that expanded its presence in banking agency services, social payments, and business solutions. The investment in Pesapal builds on this momentum and reflects the Group’s commitment to shaping Africa’s future of payments, financial inclusion, and digital growth.
